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SB 154: "An Act relating to contributions from permanent fund dividends to the general fund."

00 SENATE BILL NO. 154 01 "An Act relating to contributions from permanent fund dividends to the general fund." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 43.23.062(a) is amended to read: 04 (a) Notwithstanding AS 43.23.069, the Department of Revenue shall prepare 05 the electronic Alaska permanent fund dividend application to allow an applicant who 06 files electronically to direct that money be subtracted from the dividend payment and 07 contributed to the general fund, to the peace officer and firefighter survivors' fund, or 08 to one or more of the educational organizations, community foundations, or charitable 09 organizations that appear on the contribution list contained in the application. A 10 contribution to the general fund, to the peace officer and firefighter survivors' fund, 11 or to an organization may be $25, $50, $75, $100, or more, in increments of $50, up to 12 the total amount of the permanent fund dividend that the applicant is entitled to 13 receive. If the total amount of contributions elected by an applicant exceeds the 14 amount of the permanent fund dividend that the applicant is entitled to receive, 15 contributions shall be deducted from the dividend in the order of priority elected by

01 the applicant on the application until the entire amount of the dividend that the 02 applicant is entitled to receive is allocated for contribution. The electronic dividend 03 application form must include notice that seven percent of the money contributed will 04 be used for administrative costs incurred in implementing this section, and money 05 from the dividend fund will not be used for that purpose. 06 * Sec. 2. AS 43.23.062(b) is amended to read: 07 (b) The department shall list each educational organization, community 08 foundation, or charitable organization eligible under (c) and (d) of this section, each 09 university campus that applies under (l) of this section, the general fund, and the 10 peace officer and firefighter survivors' fund on the contribution list. The department 11 shall maintain an electronic database for the contribution list that is accessible to the 12 public and that permits searches by organization or fund name, geographic location, 13 and type. The department shall provide a statement of the contributions made by an 14 individual that is suitable for federal income tax purposes to each individual who 15 elects to contribute under (a) of this section 16 * Sec. 3. AS 43.23.062(m) is amended to read: 17 (m) In addition to the application fee in (f) of this section, the department shall 18 withhold a coordination fee from each organization, foundation, or university campus 19 that receives contributions under this section in the immediately preceding dividend 20 year. The coordination fee for an organization, foundation, or university campus that 21 receives contributions under this section shall be seven percent of the amount of 22 contributions reported by the department under (j) of this section for the organization, 23 foundation, or university campus for the immediately preceding dividend year. The 24 coordination fee shall be separately accounted for under AS 37.05.142 and shall be 25 accounted for separately from the application fee collected under (f) of this section. 26 The annual estimated balance in the account maintained under AS 37.05.142 for 27 coordination fees collected under this subsection may be appropriated for costs of 28 administering this section. The department may not withhold a coordination fee for 29 contributions to the general fund or to the peace officer and firefighter survivors' 30 fund.